GoPro Inc (GPRO) Position Cut by BlackRock Inc.

BlackRock Inc. trimmed its stake in GoPro Inc (NASDAQ:GPRO) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,194,700 shares of the company’s stock after selling 107,625 shares during the quarter. BlackRock Inc. owned about 0.06% of GoPro worth $59,001,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in GPRO. Renaissance Technologies LLC lifted its position in GoPro by 478.8% during the second quarter. Renaissance Technologies LLC now owns 4,496,600 shares of the company’s stock valued at $28,958,000 after buying an additional 3,719,700 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in GoPro during the third quarter valued at approximately $15,571,000. Northern Trust Corp lifted its position in GoPro by 5.4% during the second quarter. Northern Trust Corp now owns 1,384,607 shares of the company’s stock valued at $8,917,000 after buying an additional 70,968 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in GoPro by 18.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,059,983 shares of the company’s stock valued at $6,827,000 after buying an additional 166,661 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in GoPro by 1.8% during the third quarter. Wells Fargo & Company MN now owns 590,514 shares of the company’s stock valued at $4,251,000 after buying an additional 10,471 shares in the last quarter. Hedge funds and other institutional investors own 39.07% of the company’s stock.

NASDAQ GPRO opened at $4.99 on Friday. GoPro Inc has a 52 week low of $4.00 and a 52 week high of $7.60. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.37. The firm has a market cap of $738.00 million, a PE ratio of -4.71, a PEG ratio of 3.51 and a beta of 0.46.

GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, November 1st. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. GoPro had a negative net margin of 17.77% and a negative return on equity of 70.45%. The business had revenue of $286.00 million for the quarter, compared to analysts’ expectations of $272.28 million. During the same period in the previous year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that GoPro Inc will post -0.53 earnings per share for the current year.

A number of research analysts have weighed in on GPRO shares. Wedbush reaffirmed a “hold” rating and set a $7.00 price target on shares of GoPro in a research report on Thursday, September 20th. Longbow Research reaffirmed a “hold” rating on shares of GoPro in a research report on Friday, September 21st. UBS Group raised shares of GoPro from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 26th. Oppenheimer raised shares of GoPro from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a research report on Wednesday, September 26th. Finally, Citigroup raised shares of GoPro from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a research report on Wednesday, September 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. GoPro presently has a consensus rating of “Hold” and an average target price of $6.75.

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About GoPro

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

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Institutional Ownership by Quarter for GoPro (NASDAQ:GPRO)

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